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5 Mar 2013
Forex: GBP/USD threatens 1.5100
The bearishness surrounding the sterling is intensifying on Tuesday, threatening to breach the key limestone of 1.5100, as risk aversion is picking up pace.
Jane Foley, Senior FX Strategist at Rabobank, assessed, “In terms of the timing of the next BoE move we find ourselves in line with the majority in expecting more QE in Q2 2013; specifically we favor May insofar as this would coincide with the publication of the next BoE Inflation Report”.
As of writing, the cross is losing 0.08% at 1.5101 with the next support at 1.5000 (low Mar.4) ahead of 1.4985 (low 2013 mar.1) and then 1.4949 (low Jul.12 2010).
On the upside, a breakout of 1.5200 (high Mar.5) would open the door to 1.5223 (high Feb.28) en route to the psychological level at 1.5300
Jane Foley, Senior FX Strategist at Rabobank, assessed, “In terms of the timing of the next BoE move we find ourselves in line with the majority in expecting more QE in Q2 2013; specifically we favor May insofar as this would coincide with the publication of the next BoE Inflation Report”.
As of writing, the cross is losing 0.08% at 1.5101 with the next support at 1.5000 (low Mar.4) ahead of 1.4985 (low 2013 mar.1) and then 1.4949 (low Jul.12 2010).
On the upside, a breakout of 1.5200 (high Mar.5) would open the door to 1.5223 (high Feb.28) en route to the psychological level at 1.5300